Higher Education Loan Program (HELP): Who Qualifies and What You Get
Learn how the Higher Education Loan Program works, including how your debt is indexed and when you are required to start making repayments.
The Higher Education Loan Program (HELP) is a system that allows university graduates to manage the cost of their studies through a loan.
Who it's for
This program is specifically for university graduates who have existing student debt from their studies.
What you get
You receive a loan to cover your educational costs. This loan does not charge interest, but the balance is adjusted periodically to keep up with inflation.
What it costs you
You do not need to make manual payments immediately. Instead, repayments are handled automatically through the tax system once your annual income reaches a specific threshold.
The catch to know
Because the debt is indexed to inflation annually, the total amount you owe can increase over time, even if you are not making regular payments.
How to apply
- Check your current debt balance through your official government tax account.
- Monitor your annual income to see when you reach the repayment threshold.
- Ensure your employer has your correct details so repayments are processed correctly.
- Visit the official government portal for more details on current thresholds.